Nigeria is a country that has experienced tremendous cybersecurity threats in recent years, especially in the form of insider threats. Insider threats refer to malicious activities performed by people within an organisation, such as employees, contractors, and third-party vendors, who have access to the organisation’s systems and data. Insider threats pose a serious risk to organisations as they are difficult to detect and prevent. This article will provide an in-depth look at the various types of insider threats in Nigeria, the steps organisations can take to detect and prevent them, and how organisations can protect themselves from the potentially devastating impacts of insider threats. Through this article, readers will gain a better understanding of the current state of cyber security in Nigeria and how to safeguard their organisations from insider threats.
Types of Insider Threats in Nigeria
There are several different types of insider threats in Nigeria, each posing its own unique challenges to organisations. The most common types of insider threats include the following: Insider misuse – Insider misuse occurs when an employee misuses his or her privileges to perform malicious actions. For example, an employee may copy confidential data and send it to a competitor or sell it to a third party. Insider fraud – Insider fraud, also called employee fraud, refers to fraudulent activities performed by employees, such as embezzlement, theft of intellectual property, and money laundering. Insider fraud is usually motivated by financial gain. Insider breaches – Insider breaches occur when an employee or contractor breaches his or her trust and causes damage to the organisation by misusing his or her access rights. For example, an employee may unintentionally download malicious code from the internet and unknowingly introduce it into the organisation’s systems.
Detecting and Preventing Insider Threats
The best way to detect and prevent insider threats is by implementing strong cyber security controls. Strong cyber security controls include a combination of policies, procedures, technologies, and practices that protect an organisation from cyber threats. Insider threats can be detected and prevented by implementing the following cyber security controls: Strong authentication – Strong authentication is the process of verifying the identity of individuals who access the organisation’s systems. Authentication can be achieved through the use of a password, a personal identification number (PIN), biometrics, or other forms of identification. Strong authentication is critical to detecting insider threats because it helps organisations identify the source of malicious activities and identifies the individuals who are responsible for the threats. Strong authentication can be achieved through the use of multi-factor authentication, which requires individuals to provide two or more forms of identification, such as a password and a PIN or a fingerprint. Network security – Network security refers to the policies and technologies used to protect the organisation’s network and devices connected to it. Network security controls include firewalls, intrusion detection systems (IDS), and other technologies. Network security controls are critical for detecting and preventing insider threats because malicious individuals often try to access the network.
Impact of Insider Threats on Nigerian Organisations
Insider threats pose a significant risk to organisations in Nigeria and around the world. In fact, the average cost of a data breach in the US is nearly $3.8 million, and the average cost of a breach involving stolen data is more than $158 per record. In Nigeria, the impact of insider threats can be even more devastating because cyber security is still in its infancy. The rate of internet penetration in Nigeria is low and less than half of the population has internet access. Organisations may also face severe reputational damage as a result of an insider threat. For example, an insider breach that results in the theft of sensitive data that is later published by the malicious individual or organisation responsible may result in reputational damage. This type of breach has the potential to cause long-lasting damage to an organisation’s reputation.
Cyber Security Best Practices to Mitigate Insider Threats
To protect themselves against the potentially devastating impacts of insider threats, organisations should take steps to mitigate the risk of insider threats by implementing the following cyber security best practices: Strong authentication – Strong authentication is critical for mitigating insider threats because it helps organisations identify the source of malicious activities and identifies the individuals who are responsible for the threats. Strong authentication can be achieved through the use of multi-factor authentication, which requires individuals to provide two or more forms of identification, such as a password and a PIN or a fingerprint. Network security – Network security is critical for mitigating insider threats because it protects the organisation’s network and devices connected to it. Network security controls include firewalls, IDSs, and other technologies. Network security controls are critical for detecting and preventing insider threats because malicious individuals often try to access the network.
Enhancing Cyber Security Awareness and Training
Organisations can further protect themselves against insider threats by investing in employee training and awareness programs. Employee training and awareness programs help organisations educate employees about the potential threats they may face and equip them with the tools and knowledge they need to mitigate these threats. All employees should be aware of the common types of insider threats and the potential impacts of these threats on the organisation. Employees should also be aware of the tools and technologies they can use to protect themselves against insider threats. Employees should also be aware of the resources available to them, such as an HR representative or a supervisor, to report suspicious activity they may encounter.
Conclusion
Insider threats pose a significant risk to organisations in Nigeria and around the world. The best way to mitigate the risk of insider threats is by implementing strong cyber security controls, such as strong authentication, network security, and training and awareness programs. Strong authentication, network security, and training and awareness programs help organisations identify the source of malicious activities and identify the individuals who are responsible for the threats. However, cyber security must be addressed as a holistic system, not just as a set of technical controls. To achieve this, organisations need to define the desired state of their cyber security, identify their current state, and then put in place a plan to move from their current state to the desired state. These steps will help organisations understand where their cyber security currently stands, determine what threats and weaknesses are present, and determine how to improve their cyber security.